Punjab National Bank (PNB) has received an approval in response to the request for proposal issued to ten shortlisted life insurance companies for strategic partnership; the board approved the offer of MetLife India for acquiring stake and a corporate agency distribution arrangement in the company.
The bank has received an approval for partnership at its board meeting held on July 28, 2011. Further this strategic partnership is subject to regulatory approvals.
Recently, Punjab National Bank, India's second largest public sector bank, was ready to enter into the Canadian market by setting up a subsidiary with an estimated capital of Rs 100 crore. The bank would initially serve the Indians living there. The bank aims to enhance its presence in Canada by setting up more branches.
Company Name | CMP |
---|---|
SBI | 829.90 |
Canara Bank | 118.90 |
Bank Of Baroda | 270.70 |
PNB | 125.05 |
Union Bank Of India | 146.65 |
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